BRACODEV: what changed
Two fiscal years side by side, explained: what moved most in the balance sheet and the result, why the result rose or fell, and where the money went.
BRACODEV
Largest movements
- Tangible fixed assets +€551,177
up €551,177 (+21.6%), from €2.6m to €3.1m
of which Land and buildings: +€552,154
- Cash -€142,621
down €142,621 (-32.6%), from €437,331 to €294,710
mainly Investment in fixed assets (net) (-€606,538) and Trade debts (-€66,534)
- Debts after one year +€331,919
up €331,919 (+26.2%), from €1.3m to €1.6m
- Profit (loss) carried forward +€85,231
up €85,231 (+332.5%), from €25,636 to €110,867
- Trade debts -€66,534
down €66,534 (-88.7%), from €74,975 to €8,441
- Tax, wage and social debts +€57,589
up €57,589 (+202.2%), from €28,488 to €86,077
- Other debts -€43,760
down €43,760 (-25.1%), from €174,545 to €130,785
- Gross operating margin -€915,874
down €915,874 (-77.1%), from €1.2m to €272,156
- Depreciation -€43,951
down €43,951 (-44.3%), from €99,312 to €55,361
- Financial charges +€34,573
up €34,573 (+80.6%), from €42,895 to €77,467
- Taxes +€19,658
up €19,658 (+179.9%), from €10,925 to €30,583
From the 2024 result to the 2025 result
Each bar is the change in one income-statement line, as its effect on the result: higher costs pull it down, higher income lifts it.
Cash bridge derived
Derived from the 2024 and 2025 balance sheets and the 2025 result: not a filed cash-flow statement. It shows where the money came from and went.
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €3,053,799 | €3,462,355 | +€408,556 | +13.4% |
| Fixed assets | 21/28 | €2,554,542 | €3,105,719 | +€551,177 | +21.6% |
| Tangible fixed assets | 22/27 | €2,554,542 | €3,105,719 | +€551,177 | +21.6% |
| Land and buildings | 22 | €2,552,432 | €3,104,586 | +€552,154 | +21.6% |
| Plant, machinery and equipment | 23 | €145 | - | -€145 | |
| Furniture and vehicles | 24 | €1,965 | €1,132 | -€833 | -42.4% |
| Current assets | 29/58 | €499,257 | €356,636 | -€142,621 | -28.6% |
| Amounts receivable within one year | 40/41 | €61,926 | €61,926 | = | 0.0% |
| Trade receivables | 40 | €61,926 | €61,926 | = | 0.0% |
| Cash at bank and in hand | 54/58 | €437,331 | €294,710 | -€142,621 | -32.6% |
| Total equity and liabilities | 10/49 | €3,053,799 | €3,462,355 | +€408,556 | +13.4% |
| Equity | 10/15 | €1,256,313 | €1,356,969 | +€100,656 | +8.0% |
| Contributions | 10/11 | €217,400 | €217,400 | = | 0.0% |
| Reserves | 13 | €1,013,277 | €1,028,702 | +€15,425 | +1.5% |
| Tax-exempt reserves | 132 | €810,301 | €825,726 | +€15,425 | +1.9% |
| Distributable reserves | 133 | €202,976 | €202,976 | = | 0.0% |
| Profit (loss) carried forward | 14 | €25,636 | €110,867 | +€85,231 | +332.5% |
| Provisions and deferred taxes | 16 | €203,328 | €213,773 | +€10,445 | +5.1% |
| Deferred taxes | 168 | €203,328 | €213,773 | +€10,445 | +5.1% |
| Amounts payable | 17/49 | €1,594,158 | €1,891,613 | +€297,455 | +18.7% |
| Amounts payable after more than one year | 17 | €1,264,889 | €1,596,808 | +€331,919 | +26.2% |
| Financial debts | 170/4 | €1,264,889 | €1,596,808 | +€331,919 | +26.2% |
| Amounts payable within one year | 42/48 | €329,269 | €293,354 | -€35,915 | -10.9% |
| Current portion of amounts payable after more than one year | 42 | €51,261 | €68,051 | +€16,790 | +32.8% |
| Trade debts | 44 | €74,975 | €8,441 | -€66,534 | -88.7% |
| Suppliers | 440/4 | €74,975 | €8,441 | -€66,534 | -88.7% |
| Taxes, remuneration and social security | 45 | €28,488 | €86,077 | +€57,589 | +202.2% |
| Taxes | 450/3 | €28,488 | €86,077 | +€57,589 | +202.2% |
| Other amounts payable | 47/48 | €174,545 | €130,785 | -€43,760 | -25.1% |
| Accrued charges and deferred income | 492/3 | - | €1,450 | +€1,450 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €99,312 | €55,361 | -€43,951 | -44.3% |
| Other operating charges | 640/8 | €3,192 | €3,888 | +€695 | +21.8% |
| Gross operating margin | 9900 | €1,188,030 | €272,156 | -€915,874 | -77.1% |
| Operating profit (loss) | 9901 | €1,085,525 | €212,907 | -€872,618 | -80.4% |
| Financial income | 75/76B | €247 | €6,244 | +€5,998 | +2432.4% |
| Recurring financial income | 75 | €247 | €6,244 | +€5,998 | +2432.4% |
| Financial charges | 65/66B | €42,895 | €77,467 | +€34,573 | +80.6% |
| Recurring financial charges | 65 | €42,895 | €77,467 | +€34,573 | +80.6% |
| Profit (loss) for the period before taxes | 9903 | €1,042,877 | €141,684 | -€901,193 | -86.4% |
| Transfer from deferred taxes | 780 | €3,544 | €930 | -€2,614 | -73.8% |
| Transfer to deferred taxes | 680 | €1,017,173 | €11,375 | -€1.0m | -98.9% |
| Income taxes | 67/77 | €10,925 | €30,583 | +€19,658 | +179.9% |
| Profit (loss) for the period | 9904 | €18,323 | €100,656 | +€82,333 | +449.3% |
| Transfer from tax-exempt reserves | 789 | - | €30,074 | +€30,074 | |
| Transfer to tax-exempt reserves | 689 | - | €45,499 | +€45,499 | |
| Profit (loss) for the period to be appropriated | 9905 | €18,323 | €85,231 | +€66,908 | +365.2% |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 6 October 2026 via checked.be.